{"id":18282,"date":"2021-08-31T06:48:00","date_gmt":"2021-08-31T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18282"},"modified":"2023-02-21T22:41:47","modified_gmt":"2023-02-22T03:41:47","slug":"swing-trading-stocks-083121-2","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-083121-2\/","title":{"rendered":"The Wagner Daily &#8211; Uptrend potential: $CVNA near 50-day MA"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210831CVNA.png\" alt=\"$CVNA daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; August 31, 2021<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211; buy mode &nbsp;<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210831open.png\" alt=\"$open positions\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>closed positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2020\/closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Per intraday alert, added to $ZIM.<\/li>\n\n\n\n<li>$MELI buy stops triggered.<\/li>\n\n\n\n<li>$AMD add triggered.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Large cap tech outperformed with $QQQ up +1.1% vs +0.4% in $SPY. Both ETFs are in a strong uptrend which makes it tough to find quality chart patterns with low-risk buy points.<\/p>\n\n\n\n<p>$MELI was added to the model portfolio on Monday along with the second buy in $AMD. Per intraday alert, we also added to our position in $ZIM looking for the 10-day EMA to hold.<\/p>\n\n\n\n<p>There are no new official setups for Tuesday.<\/p>\n\n\n\n<p>Below are a few charts we are monitoring (these are not official trades):<\/p>\n\n\n\n<p>$DLO has pulled back to the 10-day EMA after a big volume gap up.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210831DLO.png\" alt=\"$DLO daily\" title=\"\"><\/figure>\n\n\n\n<p>$CVNA reversed off the 10-week MA and stopped just shy of the 50-day MA. This is the first touch of the 50ma in a strong uptrend. Monday&#8217;s high is the entry (not official).<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210831CVNA.png\" alt=\"$CVNA daily\" title=\"\"><\/figure>\n\n\n\n<p>$NUE is potentially in play on a downtrend line break but we&#8217;d prefer to see a touch of the 20-day EMA first.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210831NUE.png\" alt=\"$NUE daily\" title=\"\"><\/figure>\n\n\n\n<p>Like $DLO, $LC is best purchased on weakness, such as a pullback to\/near the 20-day EMA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210831LC.png\" alt=\"$LC daily\" title=\"\"><\/figure>\n\n\n\n<p>The $AMD add failed to follow through but there is support from the rising 20-period EMA a bit lower.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/2100831AMD.png\" alt=\"$AMD daily\" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$DXCM &#8211; buy at 529.00<\/li>\n\n\n\n<li>$CVNA &#8211; buy at 342.00&nbsp;<\/li>\n\n\n\n<li>$DLO &#8211; depends on open, but as close to 10ema as possible&nbsp;<\/li>\n\n\n\n<li>$MELI &#8211; buy at 1,911.00 if not already long<\/li>\n\n\n\n<li>$U and $PLTR could be ready to push higher if the price holds yest. close.&nbsp;<\/li>\n\n\n\n<li>$WDAY over 2-day high and $MDB over Monday&#8217;s high are potentially in play.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$CVNA reversed off the 10-week MA and stopped just shy of the 50-day MA. This is the first touch of the 50ma in a strong uptrend. Monday&#8217;s high is the entry (not official).<\/p>\n","protected":false},"author":2,"featured_media":12060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[782],"tags":[],"class_list":["post-18282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wagner-daily-archives"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=18282"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18282\/revisions"}],"predecessor-version":[{"id":18286,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18282\/revisions\/18286"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media\/12060"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=18282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}